Closing Be!! .... fourth consecutive negative daily close for the Sensex/Nifty

Markets slide lower

Markets began the new Jan derivative series on a weak note. The main indices were dragged lower by Reliance as it touched a new 52-week low. It was the fourth consecutive negative daily close for the Sensex/Nifty.

Statistics

While the BSE Sensex finally closed 89.01pts or 0.57% lower at 15,454.92, the Nifty lost 21.95pts or 0.47% to close at 4,624.3. Broad market indices however ended higher as the BSE Mid Cap and Small Cap indices gained 0.31% and 0.09% respectively. Market breadth was negative as the A/D ratio was 0.91:1 on the BSE. NSE cash turnover was Rs.6,685crs. Vs. Rs.8,926crs. in the previous session.

Sectoral and Stock movers

The sectoral indices ended with a mixed bag. While the top gainers were the BSE Healthcare and IT indices, the top losers were the BSE Oil and Gas, Realty, Bankex and Metal indices. The top gainers from the BSE 30 were Infy, Coal India and BHEL. The top losers were Reliance, Jindal Steel, DLF and Tata Steel.

Foreign markets

Major European markets like the CAC ( 0.19%) and DAX ( 0.32%) are trading higher at 16:28 IST. The FTSE is however trading lower (-0.18%).

Major Asian markets have closed on a mixed note. While the Nikkei (0.67%) and Hang Seng ( 0.2%) have ended higher, the Straits (-1.0%) and Taiwan (-0.04%) indices have ended lower.

Way forward

With the markets drifting down further for the fourth consecutive session, immediate lows to watch are now at 4602. A close below these supports could see the Nifty heading towards the next major lows of 4531. On the upside, immediate resistance is at 4688.

Sources-HDFC SEC

Closing Bell !!...Nifty closes below 4,700 on the last derivative expiry of year 2011

Markets ended lower amidst a volatile trading session on Thursday, weighed down by weak Asian cues early in the day and a depreciating rupee, with index heavyweights Reliance Industries and Infosys leading the fall.

Statistics

While the BSE Sensex finally closed 184 pts or 1.2% lower at 15,544, the Nifty lost 60 pts or 1.3% to close at 4,646. Broad market indices too ended lower as the BSE Mid Cap and Small Cap indices lost 0.4% and 0.7% respectively. Market breadth was negative as the A/D ratio was 0.8:1 on the BSE. NSE cash turnover was Rs.8,926 crs. Vs. Rs.6,218 crs. in the previous session.

Sectoral and Stock movers

Barring the BSE Metals and Healthcare indices, all the sectoral indices ended lower. The top losers were the BSE Oil & Gas, Capital Goods, Realty and Power indices. The top gainers from the BSE 30 were Jindal Steel, SBI, Sterlite Inds and Hindalco Inds. The top losers were Maruti, BHEL, RIL and Tata Power.

Foreign markets

Major European markets like FTSE ( 0.2%) and DAX ( 0.2%) are trading higher at 16:10 IST while CAC is trading marginally lower.

Asian markets like Taiwan (0.3%), Strait Times (0.2%) and Shanghai (0.2%) indices ended higher for the day. However, Hang Seng and Nikkei lost 0.7% and 0.3% respectively.

Way forward

With the Nifty breaking an important support level of 4,700 today, we expect the downtrend to continue.

Source- hdfcsec

Headless chickens!!!!

Now please don’t salivate at the thought of having butter chicken or kebabs after reading the title. I am describing the situation we are in with respect to the market. Monday we are up on a thumping note, yesterday we were down for some reason despite Asia being up; today we are down and then up. Now by this logic tomorrow we should be up and then down and on Friday we should close flat. Now I am trying my hand at astrology, but the market is such that every Tom, Dick and Harry can try his luck predicting the market as they do on TV everyday. Individually they would get certain part right, collectively they could get one part right and the other wrong and finally the system would do things which ensures nobody gets it right for most part.

Today’s session was very volatile to say the least. Index heavyweights were losing in the first half and came back in green as the day progressed. Of all the index names, it was perplexing to see heavyweights change course and turn green, green names getting stronger and red ones getting redder by the hour. So if people in the intra-day segment played for a turn around in the ones for the making a wild swing on a directional bet (that is hoping for deep red to close flat and make money and vice versa) they would be going home lighter on the pocket.

Asides, this Amul baby (remember the ACK remark on Rahul Gandhi earlier this year) which is usually calm looks really pissed off in the photo below. And this very well describes the sentiment and mood of the nation at this moment. Looks like we had had enough. Also, there seems to be another round of Anna Hazare campaign in the offing sometime in mid-December 2011, which again is a bad thing since no business would get done in the parliament. Not that there has been anything left of doing business, but still.

Finally, November 2011 closed as indicated earlier, with deep cuts – 9.85% down to be precise. On a monthly basis in terms of worse performing months, it would come very close to being right on top. One more month and we close 2011. In 2012 the Armageddon strikes anyways, so let’s start the party. This was on a lighter side. Sleep tight.

source- Rh daily rant

Market Taking a breather!

Looks like it is time to stop and ponder for the market. With the kind of run we saw yesterday, it was only logical that we stopped and took some time off to breath. Today’s session was clearly a sandwich of sorts, what with Asia opening and continuing to stay green throughout. While we tried to break even mid way and then EU pulled us down. That region has been in some sort of news overhang. But clearly, just to think of it, isn’t it that we actually started the fire right in the eastern coast of the US in the fall of 2007; and now here we are in the middle of the globe all but talking about EU region and saving of the country after country; which seems to be far bigger problem combined than all kind of issues that lay open in the US.

Back home though, we have our own set of challenges, what with the opposition not playing ball with the FDI in retail and a laundry list of merchant associations taking to the streets; obviously at the behest of the opposition parties. So while most of the retail stock which flew away like soaring kites to the sky are now back down today like the same kites whose string was severed by design. Such is the trick of the market. Never rush, since the rush would only trample you.

That is also why investing is as much of an art as science, replete with technical jargon and computer models. So today we have the high flyers of yesterday again taking backseat; down anywhere from 1%-2.5% taking with it the market which closed 1% down. Tomorrow is another day. However, what and end to the month of November 2011. All in all, whatever happens tomorrow it could be either a single digit fall or a double digit one, the month closing down by a big margin is all but certainty

Closing Bell!!!!....Indian equity benchmark Sensex dropped 1% on Friday led by the slowdown in industrial growth

SENSEX 17192.82 -169.28 (-0.97%)                                                  NIFTY 5168.85 -52.20 (-1.00%)

Markets ended lower on Friday. A recovery from the day?s low helped to curb the losses. While the BSE Sensex finally closed 169.28pts or 0.97% lower at 17,192.82, the Nifty lost 52.20pts or 1.0% to close at 5,168.85. Broad market indices too ended lower as the BSE Midcap and Small Cap indices shed 1.13% and 1.57% respectively. Market breadth was negative as the A/D ratio was 0.49:1 on the BSE.

The sectoral indices ended with a mixed bag. While the top gainers were the BSE Oil and Gas, Auto and Healthcare indices, the top losers were the BSE Bankex, Metal, CG and Realty indices. The top gainers from the BSE 30 were M&M, Sun Pharma, Reliance and Hero Motor co. The top losers were ICICI Bank, Hindalco, Tata Steel and SBI.

With the Nifty ending lower on Friday and closing below the supports of 5200, the outlook remains weak for the time being. We recommend a cautious approach on fresh longs.

Source- HDFCsec

Closing Bell!!..............BSE benchmark index witnessed a consolidation pattern throughout the session on Tuesday

BSE benchmark index witnessed a consolidation pattern throughout the session on Tuesday, ahead of events in the eurozone.

Nervousness in Asian markets spilled over to Indian equities and a bounce-back later in European markets led to a recovery in the last hours of trade. Sensex saw a swing of 177 points, before closing up 7 points or 0.04% at 17,570. Nifty rose just 5 points or 0.1%, to end at 5,289.

BSE Midcap outperformed the Benchmark index gaining 0.2% while BSE Smallcap fell by 0.2%. Market breadth was marginally positive, as the A/D ratio was 1.02:1 on the BSE. NSE cash turnover was Rs.8,124 crs. Vs. Rs.10,089 crs. on Friday.

All the sectoral indices ended in the green except Realty, Healthcare, Auto, Metals and FMCG. The top gainers were Consumer Durables, Oil & Gas, Power and Capital Goods. The top gainers from the BSE 30 were SBI, Tata Motors, Hindalco and Sterlite Inds. The top losers were Sun Pharma, DLF, Cipla and NTPC.

Aided by an upmove in European markets, Sensex reached its previous closing value by wiping out all losses incurred since morning. Today?s Italian vote would be keenly watched for future course of markets globally including India.

Source- hdfc security